Latest Releases
U.S. Senators Tina Smith, Dave McCormick, Ruben Gallego and Thom Tillis Introduce Bipartisan Legislation to Extend the Terrorism Risk Insurance Program for Seven Years
WASHINGTON, DC – Today, U.S. Senators Tina Smith (D-MN), Dave McCormick (R-PA), Ruben Gallego (D-AZ), and Thom Tillis (R-NC) introduced the bipartisan Terrorism Risk Insurance Program Reauthorization Act of 2026, which is essential to economic security by safeguarding the availability of terrorism risk coverage. This legislation is also cosponsored by Senators Britt (R-AL), Van Hollen (D-MD), Crapo (R-ID), Cortez Masto (D-NV), Kennedy (R-LA), Schumer (D-NY), Moreno (R-OH), Kim (D-NJ), Ricketts (R-NE), Alsobrooks (D-MD), Warnock (D-GA) and Blunt-Rochester (D-DE). Following the attacks on September 11, 2001, most states began allowing terrorism risk to be excluded from commercial insurance policies, leaving businesses and industries without access to coverage. Since insurance is a precondition for commercial lending and real estate transactions, this gap in coverage threatened broad economic damage across real estate, construction, energy, transportation, and related industries. Congress responded by passing the Terrorism Risk Insurance Act of 2002 (TRIA), creating a federal reinsurance backstop to stabilize the private market and ensure that commercial policyholders could continue to obtain terrorism risk coverage. The private insurance market has relied on the TRIA backstop ever since. When TRIA briefly lapsed in December 2014, terrorism exclusions that insurers had pre-filed with state regulators took effect automatically, making terrorism coverage effectively unavailable across commercial policies nationwide. As a result, terrorism risk coverage was removed from policyholders immediately and without notice. Given that the current threat landscape remains elevated, allowing a similar lapse in terrorism coverage would expose policy holders to unnecessary financial risk and uncertainty. “The Terrorism Risk Insurance Program is critical to keeping insurance available and affordable to businesses in Minnesota and across the country so they can grow and create jobs,” said Senator Smith. “Without this bill, a potential terrorism event would mean a financial catastrophe for many businesses and would be extremely costly to taxpayers.
U.S. Senators Tina Smith, Catherine Cortez Masto Introduce Legislation Protecting Children Harmed by ICE Actions Against Their Parents
WASHINGTON – Today, U.S. Senators Tina Smith (D-MN) and Catherine Cortez Masto (D-NV) introduced the Humane Enforcement and Legal Protections (HELP) for Separated Children Act. The legislation would protect children affected by immigration enforcement actions or proceedings against their parents. According to a 2019 analysis, there are 7.2 million children of noncitizen parents in the United States. “The images of 5-year-old Liam Conejo Ramos in his bunny hat after preschool are seared into the minds of Minnesotans. Using children as pawns to detain their parents is morally repugnant,” said Senator Smith. “This bill would put common-sense moral safeguards in place to protect children from ICE agents’ brutal tactics. Children are our most precious gift and needlessly traumatizing them in service of this Administration’s mass deportation campaign is beneath this nation’s morals.” “President Trump promised to go after the worst of the worst, but his immigration agenda is targeting hardworking immigrants instead,” said Senator Cortez Masto. “Innocent kids across the United States have been caught in the crossfire as their parents become targets of his Administration’s cruel immigration enforcement efforts. We must pass the HELP for Separated Children Act to require immigrant families be treated with dignity and to protect the rights of the most vulnerable among us.” “Coloradans must be assured that ICE is subject to the same common-sense practices we expect from well-functioning local law enforcement, especially when it comes to the best interests of children,” said Senator Bennet. “The HELP for Separated Children Act will bring dignity back to families and ensure proper safeguards are in place to hold ICE accountable. We cannot allow the Trump
U.S. Senator Amy Klobuchar and Tina Smith Celebrate Grants to Repair Flood Damage Across Chippewa and Superior National Forests
ST. PAUL, MINNESOTA – U.S. Senators Amy Klobuchar and Tina Smith (both D-MN) announced two grants to the U.S. Forest Service to repair the transportation infrastructure in parts of Minnesota, Wisconsin, and Michigan that was damaged due to significant flooding and high temperature spikes in the region. “Minnesotans are still dealing with the aftermath of severe flooding and extreme heat, and the damage to our transportation infrastructure in the Chippewa National Forest and the Superior National Forest has been significant,” said Klobuchar. “That’s why I fought for this funding to help rebuild and make sure people who live, work, and enjoy spending time in and around our
U.S. Senators Amy Klobuchar, Tina Smith Celebrate Grant to Repair Road Damage in Nicollet County
ST. PAUL, MINNESOTA – U.S. Senators Amy Klobuchar and Tina Smith (D-MN) announced a grant to repair damage done by a landslide in Nicollet County in June of 2020. The landslide occurred because of saturated soils in the riverbed combined with depleted water levels in the Minnesota River, causing damage to county road systems. The grant will reimburse the Minnesota Department of Transportation as they finish construction to stabilize the roads and the riverbanks to make the area safer and more accessible. “We’ve seen firsthand the disruptive impact of landslides and other natural disasters in Nicollet County, and how important it is for
U.S. Senators Amy Klobuchar, Tina Smith Celebrate Award to Repair Flood Damage from Rapidan Dam Failure
ST. PAUL, MINNESOTA – U.S. Senators Amy Klobuchar and Tina Smith (both D-MN) announced a grant for Southeastern Minnesota to survey and repair damage done by severe storms in May 2024, which caused flooding and damage to road infrastructure in 42 counties. One notable example is the Rapidan Dam, a well-known and well-traveled-to location which was severely damaged and made the nearby bridge on County Road 9 unsafe for travelers. “The floods of May 2024 took a heavy toll on southeastern and south-central Minnesota and when natural disasters hit we need to work together to rebuild,” said Klobuchar. “This funding will allow
Senators Smith, Rounds Reintroduce Bipartisan Bill to Spur Economic Development in Underserved Communities
WASHINGTON – U.S. Senators Tina Smith (D-MN) and Mike Rounds (R-SD) reintroduced bipartisan legislation to jumpstart economic development and address disparities in access to capital. The bill would strengthen and expand Community Development Financial Institutions (CDFI), which play a critical role in bringing capital and financial services to a wide range of small businesses, homeowners and housing developers. Their legislation—the CDFI Bond Guarantee Program Improvement Act will extend authorization of the CDFI Bond Guarantee Program, while making it more reliable and accessible to smaller CDFIs. This legislation will expand and improve a successful program that operates at no cost to taxpayer and allows CDFIs to
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